Portfolio Company Update: Monte Rosa IPO

LEI: 549300Q7EXQQH6KF7Z84

25 June 2021

RTW Venture Fund Limited

Portfolio Company Update: Monte Rosa IPO

Monte Rosa Prices $222.3 Million IPO

RTW Venture Fund Limited (the "Company"), a London Stock Exchange-listed investment company focused on identifying transformative assets with high growth potential across the biopharmaceutical and medical technology sectors, is pleased to note the 23 June 2021 announcement by one of its portfolio companies, Monte Rosa Therapeutics, Inc. ("Monte Rosa") regarding its pricing of a $222.3 million initial public offering ("IPO") and admission to trade on Nasdaq Global Market under ticker "GLUE".

Monte Rosa is a preclinical-stage biotechnology company discovering and developing small molecule degraders (also known as molecular glues) to eliminate disease-causing proteins. Monte Rosa has developed a proprietary protein degradation platform, QuEEN™, that enables it to rapidly identify protein targets and molecular glue degrader product candidates that are designed to eliminate therapeutically relevant proteins in a highly selective manner.

Prior to IPO, the Company, together with other funds managed by RTW Investments, LP, participated in Monte Rosa's $95 million Series C financing round in March 2021.

Monte Rosa's IPO raised $222.3 million by offering 11.7 million shares at $19.00 per share. On the first day of trading, Monte Rosa's share price increased by 11.5% to close at $21.18 per share.

Monte Rosa's IPO pricing announcement can be accessed on its website at: www.monterosatx.com, the full text of which is contained below.  

For Further Information

RTW Investments, LP                                     +1 (646) 343 9280
Stephanie Sirota, Chief Business Officer
Alexandra Taracanova, PhD, Director of Investor Relations

Julia Enright, Senior Business Development Associate

Buchanan                                                          +44 (0)20 7466 5107
Charles Ryland

Henry Wilson

George Beale

About RTW Venture Fund Limited:

RTW Venture Fund Limited (LSE: RTW) is an investment company focused on identifying transformative assets with high growth potential across the biopharmaceutical and medical technology sectors. Driven by a long-term approach to support innovative businesses, RTW Venture Fund invests in companies developing next-generation therapies and technologies that can significantly improve patients' lives.

RTW Venture Fund Limited is managed by RTW Investments, LP, a leading healthcare-focused entrepreneurial investment firm with deep scientific expertise and a strong track record of supporting companies developing life-changing therapies.

Visit the RTW website at www.rtwfunds.com for more information.

Monte Rosa Therapeutics Announces Pricing of Initial Public Offering

BOSTON, June 23, 2021 (GLOBE NEWSWIRE) -- Monte Rosa Therapeutics, Inc. (NASDAQ: GLUE), a biotechnology company developing a portfolio of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins, today announced the pricing of its initial public offering of 11,700,000 shares of common stock at a public offering price of $19.00 per share. All of the shares are being offered by Monte Rosa. The shares are expected to begin trading on the Nasdaq Global Select Market on June 24, 2021 under the ticker symbol "GLUE." The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Monte Rosa, are expected to be approximately $222.3 million. The offering is expected to close on June 28, 2021, subject to the satisfaction of customary closing conditions. In addition, Monte Rosa has granted the underwriters a 30-day option to purchase up to an additional 1,755,000 shares of common stock at the initial public offering price.

J.P. Morgan Securities LLC, Cowen, Piper Sandler and Guggenheim Securities, LLC are acting as joint book-running managers for the offering.

A registration statement relating to these securities became effective on June 23, 2021. The offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone at (866) 803-9204, or via email at [email protected]; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by email at [email protected] or by telephone at (833) 297-2926; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone: (800) 747-3924, or via email: [email protected]; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-5548, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Monte Rosa

Monte Rosa Therapeutics is a biotechnology company developing a portfolio of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins. The company has developed a proprietary protein degradation platform, called QuEEN™, that enables it to rapidly identify protein targets and molecular glue degrader, or MGD, product candidates that are designed to eliminate therapeutically relevant proteins in a highly selective manner. The company's drug discovery platform combines diverse and proprietary chemical libraries of small molecule protein degraders with in-house proteomics, structural biology, machine learning-based target selection and computational chemistry capabilities to predict and obtain protein degradation profiles. Monte Rosa was launched from founding investor Versant Ventures' Ridgeline Discovery Engine and is headquartered in Boston, Mass., with research operations in both Boston and Basel, Switzerland.

Contacts:

Investors
John Graziano, Solebury Trout
[email protected]

Media
Dan Budwick, 1AB
[email protected]